Just like many industries within the crypto space, such as GameFi, NFTs, and Metaverse, which continue making remarkable progressive strides, decentralized autonomous organizations (DAO) are also rapidly evolving in their functionalities. DAOs previously meant to empower communities are now ending up having governance structures similar to traditional companies.
Notably, the rapidly evolving blockchain is the technology that offers the condition and premises to consider governance by transferring all the power to communities. This process is achieved through various consensus mechanisms available today.
The decentralized autonomous organizations (DAO) are perfect examples, with the decision-making power often in the hands of those holding native tokens. Although DAOs continue empowering communities to a certain level, ending up having a governance structure similar to traditional banking or corporations.
TheGreatReset.Finance is a perfect example of a decentralized autonomous organization seeking to find the perfect tune of decentralized governance. The DAO has split the economics from the governance of its ecosystem, allowing participants to enjoy equal chances of influencing the project direction.
While commenting about the crypto advancement, the team behind DAO development wrote:
“DAOs are governed exactly like companies, with the large investors buying controlling shares/governance tokens and effectively controlling the company/DAO.”
TheGreatReset.Finance DAO explained the matter.
The GreatReset.Finance, also known as X DAO, is a community-governed ecosystem that offers farming tokens different from the governance token issued in a new manner using a decentralized job market.
X DAO comprises decentralized applications (DApps), including CyberSwap, The Agency, and a non-fungible token (NFT) market (named as the Market of Zion). The project also features a decentralized exchange (DEX) that represents an automated market maker (AMM).
TheGreatReset DAO Tokens
TheGreatReset is unique in the distinct governance it implements, with the project ecosystem fueled by three different tokens.
The first native token dubbed “TheGreatReset (TGR)” is the governance token that allows holders to vote. This new token represents the holder’s reputation in the ecosystem, which determines their voting power.
Participants can successfully acquire TGR tokens through an initial task offering (ITO) or in the Agency DApp. Interestingly, both of these distribution processes are fully decentralized. According to the new setup, the more a user contributes the more weight they get when voting.
Nonetheless, users must continue performing tasks and voting since tokens will decay in the absence of participation. Hertz is another farming token featuring several use cases, including lowering fees and certain privileges when assessing the DApp. The Hertz token will become deflationary through several mechanisms.
Lastly, the project designed the X token as a global currency, with the consensus distributed evenly to everyone taking part in TheGreatReset.Finance ecosystem. In this case, a smartphone holder can now run a consensus node and send transactions with no fees. Users will use this token for payments and transfers.
TheGreatReset.Finance experienced a busy year, introducing the DAO concept, the DEX, the market of Zion, and distributed farming tokens in 2021. The DAO community plans to launch Agency DApp this year, which will allow users to earn the governance token. Moreover, the community is also eyeing the release of The TGR Prequel comics, card games, and movies.
